CPF Cash Top Up May Not Work For Me


ok, I read alittle more on CPF Cash Top Up. I decided this doesnt really fully work for me if I want to use it to reduce tax payable. In a good way, I am happy to be in this situation.

1. Maximum Annual Total CPF Contribution Limit is $37,740.

Ordinary wage ceiling is now $6,800. Which means annual mandatory contribution is 37%*$6,800*12=$30,192

2. Additional Wage Ceiling = $102,000

Deducting away the annual OW (12*$6,800), it will be $20,400. I would like to think my bonus this year would be at least $25,000. So what this means is $20,400 of my bonus will be subjected to CPF contribution which will bring my total annual mandatory contribution to the max of $37,740. Cannot work for me.

3. Basic Healthcare Sum of $71,500.
So apparently this is the max for the year. Any additional amount will go into the SA. My MA will be max by the end of the year.

4. The only way is for me to contribute the 8k to a family member who doesnt earn more than 4,000 last year.

Alright then. Only SRS for me now. Again, do let me know if you spot any mistake! Let's learn together, from each other!

PS: Seems like ive been reading outdated things. The kind people on the IG community have advised that cash topup is limited by FRS/BHS cap now, and not the contribution limit. Frankly speaking, I am still having 2nd thoughts about putting my money into an account for more than 2 decades. 


  1. Hi there,

    The CPF is a unique savings scheme where its compulsory yet does not allow people to just dump their money into it.

    It gives a reasonably decent and steady but not market leading interest rate. Because of this, the benefits of the CPF are not immediately apparent but will only be appreciated years later, when one is in their 50s and older.
    At 62, I am now in that age group that appreciates and is enjoying the benefits of having a portion of our savings tucked away in the CPF for a long time to compound and grow.

    I have hit $2M savings in my CPF savings this Jan 2024.

    20 years is a long time when its ahead of you but a short time when its behind you!

    I shared how I did it here :

    1. Thanks for the input and I am starting to appreciate the CPF system more, though I am still deliberating whether or not to put my money in.


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